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Home My WebLink About1597 ' ~ : • •~~~Q~~ ~ . ~ ; . ; MORTGAGE DEED ~AND SECURITY AGREEMENT i THI3 MORTGAGS DEFD (the Mortga~e), dateci aa ot JLIlY 11 , 1879 , by und betwren ; ATLANTIC CONDOMINIUMS, INC., a Florida Corporation Ihereinatter rnlled Mortgt~gor) ~nd SUN BANK OF ST. LUCIE COUNTY , lwvinic un ~ ; officeat 111 Orange Avenue, Fort Pierce • F~orida lherein,~ftercalled Mortgugee): ~ WITNE33ETH, that in conaiderntion ot the premises and in order to aecure the peyment of both the principal ot, and ~ intet+eat and any other aums payable on the note (as hereinatter detined) or this Mortsage and the pertorn~ance and oh- ~ servance ot all o[ the pmvisiona hereof a~d ot aaid note, Mortgagor hereby grants, sells. warrants, aliens, remiaes, rnleases, conveye, aasigns, transfers, mortsages and sets over and contir:ns unto Mortgagee. all ot Mortgagor s estete, riRht, title and interest in, to and under all that certain real property situatein St. Lucie County, Florida more {~:i~ticularly described as tollowa: t SEE ATTACHED EXHIBIT "A" s~ =TATE G'L;~R! u t"• RfCf.'YFD s lGlo_~o ~:R )~L=uMEN~AKY~:~ STAMr_ ~ _ tk Pa.nt~rt R . ~ 1~ - ~ CG` CY Ct_ S ~ C•` j'y"t = F T.XI S 1, _i'S. Gr VC tJ E ~ ~ s~ a7 J +C:,~ lri:i'i. G. e t F A~ s::L F:'i:..:n. ~ f TJ i ~ } ~ 2 4'~-_ )i-. °4. ~'i5 QF !3/:, JY. ~ L 1. -r.,.~ . ~,.CcR F.. _ P8. - : ' CL{RK 43CUR COL'Ri ,1:::~ ~p _ ~ t , . Si. lU..lF CY~ FLA. ~ 7'OCETHER W1TH all improvements now or herna(ter Ioc:~led on s:~id real pro~~erty .~nd all (ixtures, applianc•c~. apparatus, equipment, heating and air conditioning equipment, machinery and articies of person~i property and rnplacement = thereo[ (other than those owned by lessees of said mal property) now or hereafter afti:ed to, attnched to, placed upan, or x uaed in any way in connection with the complete and comfortable use, occupancy, or o~~eration o( said real property. :~II licenses and permits used or required in connec~tion with the use of said real property, all leases of said real property nov? or hereafter entered into and ~II right, title and interest o( Morigagor thereunder, inrluding without limitation, cash or sec•uri- ties denosited thereunder pursuant to said leases, and all renls, issues, procret.~s, and profits accruing (rom s:iid re.il pmperty and together with all proceeds of the com•ersion, voluntary or involuntary o[ any ot the (oregoi~g into cash or liquid:~ted claims, including without limitation, proc•eeds ot insurance and condemnation uwards (the foregoin~ said re:d property. tangible and inlanRible person:~l pro~~erty hereinafte~ referred to as the Alortg:tged Pro~~erty1. Mortgagor hereby Rrants to Mortgagee a security interes! in lhe (oregoinR descrit~eci tangible und intangible {~enonal pro~~rt}~. TO HAVE AND TO HOLD the 111ortgaRed Yroperty, together with all aod singular the tenements, hereditaments :ind appurtenances thereunto t?elonging or in anywise appertaining .end the rnversion and re~~rrsions thereof and all the estafe, right, title, interest, homestead, dower und right ot dower, sepamte estate, ~osse~aion, claim and derruind whatsoever, as well in law as in equity, of MortRaRor and unto the s:~me, ;~nd every part thereof, with the appurten:m~es of 11'fort~aRor in and lo the same, nnd every p~ri and ~~:~rcel thereof anto MortRaRee_ 111ortqagor watrants that it has a g~xxl :~nd marketable title to :~n indefeastble (cr est.ite in Ihe AtortQ:~K~~) I'm~x•rt}• E subject to no lien, charqe or encumbrance except such as MortFagee has aRrc~c~d to accept in w•riting :~nd MortR:~gor ~•o~'en:~nts ~ that this 1liortgage is and will femain a valid and entorceable (irst mortRaRe on the AiortgaRed Pm~~erty subjec•t only to the ~ exi~eptions herein provided_ Mortgagor has ful) ~wwer :ind lawful authority to mortgage the DlortgaRed Pro~x~rty in the ; manner :~nd form herein done or intended hereafter to be done. Mortgagor will preserve such title and will (ore~~er warrant ~ and defend the same to 111ortgagee and wil) tore~~er warrnnt and defend the validity and priority ot the lien hPreo( aRainst f the claims of all persons and parties whomsoever. ~ . ~ Mortgt~gor will, at the cost of Mortgagor, and without ex~~ense to Mort~aRee, do, exe~ute, acknowledRe and deli~•er all and every such further acts, deeds, conveyances, mortKaRes, assiRnments, notices ot assiRnment, transters and a~.surances as Mortgagee ahai) (rom time to time require in order to preserve the priority of the lien of this MortRaRe or to tacilitate the ~~erformance of the terma hereo(. PROVIDED, HOWEVER, that i! MortRagor shall ~k~y to t~lort~aRee the indebtedness in ihe prin~•ipal sum o( g 83' 300 _ 00 evidenced b_y that certain pmmissory r.ote (the Notel, of e~•en date herewith, executecl by Morigagor and {x~yat~le to order ot MortRaRee, with interest and u~x~rt the terms as pmvided therein, and together w•ith all other sums advs~nced by MortgaRee to or on behalf of MortRaRor punuant to lhe Note or this Mort~aRe, the final maturity date ot the Note and this Mortgage beinR July 11 ~ 198~ , and shall ~~erform all other covenants a~d ronclitions of the Note, all of the terms of w~hich Note are in~•orywrated herein by mference as though set forth (ully here- in, ~nd of :my renewal, extension or m~xli(i~:~fion, thercv?( and of this MortRa~e, then this t~tort~a~e and the estate herebp ~•re:~ted shall cease and terminate. ~ Nlortgagor (urther comen:~nts and aRrees with Mortg:~gee as (ollows: ~ 1. To pay all sums, including interest secvred hereby when due, as pmvided for in the Note and any renewal, extensio~ ~ or modi(ication thereo( and in ihis NlortR.~ge, all such sums to he p:~yable in I~w(ul money of the Linitc~ Stalc>s of Ameri~-:i at Mort~agee's afotes;~id principal otfice, or :~t su~-h other place as A1orlRa~ee muy desiQn~te in writinR. ~ 'l. To pay when due, and without requiring any notice (rom lltortgagee, all taxes, assessments ot any type or nature ~ and other charAea levied or asse~.ged .~gainst the 111ortgxged Pro~~erty or thia htortgage and produce receipts there(or u{x?n ~ dem:~nd. To immediately ~k~y and discharge any claim, lien or encumbram~e against the 1~1or1gaRed Pro~ierty which may t?e ~ or hecome superior to this MortgaRe ~nd to permit no default or delinquency on any other lien, encumbran~•e or ~•harge• ~ aQainst the Mortgaqed Pro~~erty. ~ 3. If required by i~4ortRaRee, to also make monthly de{~os~ts with A1ortR:~Qee, in a non-interesl FiearinR :~ccounf, to- gether with and in addition to interest and princip:il, o( a sum equal to onc-twel(th of the yearly taxes and assessments Khii•h ~ may be levied against the Mortgaged Property, and lif so requiredl one-twellth o( the yearly premiums tor insuron~r thereon. The :~mount of such taxes, assessments and premiums, when unknown, shall he estimated by AiortgaKee. Such ~ depoaita shall he used by MortQaRee to E~uy such taxes, as.4essments and premiums when due. Any insut(iciency ot such -1- ~'~~312 P;~;~15y5 ~ ~ ~ . - _ _ - - _ :ff:~